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Estimate how expensive the shopping basket plus a gallon of gas will be by 2019 if costs continue to rise as they did in the period from 2008 to 2013. (Hint: to determine the inflation rate in the price of each commodity do the following:) 2013 $ 78.28 = Inflation rate 1.36 2008 $ 57.50 Then multiply the inflation rate by the 2013 amount to arrive at the estimated future amount in 2019. amount to arrive at the estimated future amount in 2019 is $106.56 3. How much would you estimate your income would need to increase in order to afford everything you currently have? How much does your income need to increase to not only cover your current standard of living but also for raising your standard of living? 4. What if the wages in your job do not increase during those five years? 5. What conclusions do you reach as a result of your research?
Suppose that two players are playing the following game. Player A can choose either Top or Bottom, and Player B can choose either Left or Right. The payoffs are given in the following table: where the number on the left is the payoff to Player A, and..
In most of the developed countries, when a pharmaceutical firm develops a new drug, the patent laws give the firm a monopoly on the sale of the drug for a period of time (e.g. 10 to 15 years). Though a monopoly is generally inefficient, why does the ..
Elucidate he is considering hiring students on a part-time basis for $40/hour, do you think he should do so.
Shawn Bates was working to establish a business enterprise with four of his wealthy friends. Each of the five individuals would receive a 20 percent ownership interest in the company. A primary goal of establishing the enterprise was to minimize the ..
Did you know that many large countries utilize a national sales tax, or value added tax, to raise revenues? What if, -in an effort to FIX THE ECONOMY, the U.S. decided to do this? What other countries are doing this and to what degree of success?
Estimate the level of sales next year if CFC reduces Px by 10 percent and increases advertising by 20 percent, Income rises by 5 percent, Py is reduced by 10 percent, and Pm remains unchanged. By how much should CFC change its advertising if it wants..
Complete a detailed industry analysis for the following 2 industries: Analyze the digital mobile device industry versus the defense industry in terms of
An asset purchased for $50000 has a depreciable life of 5 years, and it has a terminal book (salvage) value of $5,000 at the end of its depreciable life. With the straight-line method of depreciation, what is the assets book value at the end of year ..
The student then writes a summary of each article, followed by a comment on each one. The summary should demonstrate that the student understood the article as written, without any evaluation or opinion whatsoever.
In a replacement analysis problem, the following facts are known: initial cost ($12,000), the annual maintenance (none for the first 3 years, $2,000 at the end of the 4th year, $2,000 at the end of the 5th year, increasing $2,500 per year after the 5..
Explain why the standard deviation would likely not be reliable measure of variability for a distribution of the data that includes at least one extreme outlier
You have just been hired by a company as an economist and strategic planner. Your company has asked you to generate a report explaining the consequences of the market structure in which the company operates. Assume that the market structure is an oli..
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